This guide explains how to manage your vendors for Float Bill Pay to ensure accurate, on-time Bill Payments.
Guide Overview
Syncing Vendor from Accounting Sync
How to Add a Vendor's Payment Details
How to Edit a Vendor's Payment Details
Frequently Asked Questions (FAQs)
Can I remove a vendor's payment details?
If I change a vendor's payment details, will they apply to existing bills with that vendor?
How do I add my vendor's intermediary bank details, if they are required?
Can I use a P.O. box for the vendor's address in their payment details?
How to add vendors to Float
You can add vendors to Float in two ways:
Manually Adding the Vendor:
- Go to Bill Pay > Select "Manage Vendors" > Select "Add Vendor +"
Enter the vendor’s name, currency, and any other available details
- Save
Syncing Vendor from Accounting Sync:
- If you’ve connected QuickBooks Online (QBO), NetSuite or Xero to Float, your vendors will automatically sync into Float
- Synced vendors inherit their currency from your accounting system and cannot have it changed in Float
For more details, see: QBO Integration Guide - CAD / Xero CAD Integration Guide / How to Connect Your NetSuite Account to Float
Important:
If you sync vendors from another system to Float or create them in Float without adding the mailing address and payment details, bills created for that vendor will show an "Incomplete vendor record" error message. To resolve this, Add a Vendor's Payment Details
How to add a Vendor's Payment Details
- Navigate to Bill Pay
- You can add the payment details in two ways:
- Select "Manage Vendors" > Select the vendor and add all of the payment details > Save
- Open a bill and select the "Add Payment Information" button for the vendor > Add the payment details > Save
Note that in order to select a payment method other than "Wire", the "Payment Destination Country" field must first be selected. If the Payment Destination Country field is not populated, the Payment Method field won't be editable.
Selecting "Canada" will allow you to choose EFT or Wire.
Selecting "United States" will allow you to choose ACH or Wire
How to Edit a Vendor's Payment Details
Go to Bill Pay > Manage Vendors
Select the vendor and update their payment details
Save
Important:
- Change to a vendor's payment details will only apply to bills imported or approved after the changes have been made
- It is not possible to remove a vendor's payment details once they have been added
How to Delete a Vendor
Go to Settings > Vendors
Select "Delete" in the "Action" column beside the vendor
Important:
Vendor's synced from your Accounting Sync will only be deleted from Float and will not be deleted in your Accounting Sync
Vendor Currencies
The vendor's currency when created (in Float or synced from your accounting system) will dictate the currency of bill payments that can be made to that vendor. USD bill payments can't be made to a CAD vendor and vice versa.
Note: You can’t change a vendor’s currency once it has been set. If you need to pay a bill in a different currency, create a new vendor in the same currency as the bill.
Frequently Asked Questions (FAQs)
Can I remove a vendor's payment details?
No. Once payment details are added to a vendor, they cannot be removed. You can only change or update the details.
If I change a vendor's payment details, will they apply to existing bills with that vendor?
No. Changes to a vendor’s payment details only apply to bills that have not yet been approved.
If a bill has already been approved, it will still use the old payment details.
If you've imported unpaid bills from your accounting system, changes to a vendor's payment details after a bill from that vendor has been imported into Float will not apply to that bill.
To apply the updated payment details:
-
For bills created in Float:
- Move the bill back to Drafts by selecting the checkbox beside the bill > Select "Move To Drafts"
- Update the vendor's payment details. For steps, see: How to Edit a Vendor's Payment Details
- Once the payment details have been updated, select the bill from the Drafts tab > Select "Get Approval"
-
For Unpaid bills imported from QBO or Xero:
- Delete the imported bill by going to the Unpaid tab > Checking the checkbox for the bill(s) > Select "Delete"
- Update the vendor's payment details. For steps, see: How to Edit a Vendor's Payment Details
- Re-import the unpaid bill(s) by clicking the "Import Unpaid Bills" button in the "Open Bills" summary tile. For more details, see: Importing Unpaid Bills from your Connected Accounting Software
How do I add my vendor's intermediary bank details, if they are required?
Float Bill Pay does not currently have the option to add intermediary bank details for vendors.
If your vendor's bank explicitly requires an intermediary bank to process international payments, it will not be possible to process the payment through Float Bill Pay. These payments would need to be processed directly through your bank or another payment method.
Can I use a P.O. box for the vendor's address in their payment details?
No, it is not possible to use a P.O. box for a vendor's address in their payment details. Float’s payment partner requires the vendor’s physical registered business address, and P.O. box addresses are not supported.
Removing the P.O. box number (for example, using only the street name with no box number) will not work and can lead to the payment failing.
Why am I getting the error "The routing number could not be found" while saving a vendor's payment details?
This error usually occurs because the transit number is incorrect.
A common mistake is assuming that the branch number and transit number are the same. While this may be true for some banks, it is often not true.
To avoid this error:
Do not rely on a branch number pulled from online banking or other sources
Always use the transit number provided on a void cheque or a direct deposit (DD) form
Confirm that the institution number and account number are also entered correctly